Banks show confidence in our strategy

23 November 2017

Royal FloraHolland has just concluded a new credit facility worth €195 million. This will allow us plenty of opportunity to invest over the coming years in digitalisation and daily service provision, among other possibilities. The new credit line from three banks shows that they have a lot of confidence in our strategy.

Royal FloraHolland is choosing a clear path for 2018. We are
setting three priorities:

Floriday, the new global digital platform for growers

Integrated Logistic Control to enable nationwide
auctioning

The daily service provision

Steven van Schilfgaarde, Chief Financial Officer at Royal
FloraHolland, explained. "We invest in digital to promote continued
growth of the marketplace, for which the continued improvement of
our daily service provision plays an essential part. With this new
facility, we can realise all of our plans for 2018. It is a clear
sign of the banks' confidence in our direction."

Flexibility

The new credit line from the combined banks, consisting of
Rabobank (coordinator), ABN AMRO and ING, extends for five years
with an option for two extensions of one year each. This is
replacing a credit facility with more banks than these three that
was more expensive for Royal FloraHolland. The new credit line
increases our financial flexibility and considerably reduces the
cost compared to the previous credit facility.

"With the sum agreed with the banks of €195 million, Royal
FloraHolland is future-proof, and an important precondition is
fulfilled for the implementation of the formulated Strategy2020,"
said Hans van Hooren, Executive Director at Rabobank. "We are proud
of having acted as coordinator of Royal FloraHolland's first
multi-bank credit arrangement."